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ATWC is a premier media management and business consultancy agency in Australia that provides dynamic strategic planning and ethnic brand marketing.
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WHAT IS A STRATEGIC BUSINESS PLAN? • A strategic business plan is a plan that creates the perfect blend of the needs of the company with the needs of the market. This plan is the ideal path of a company’s road to success and takes into account its strengths, weaknesses and resources to create a full proof plan. A strategic business plan should be – • Long term oriented • Flexible • All-inclusive • Goal oriented • Researched • Properly Managed
WHAT ARE THE STEPS IN THE STRATEGIC PLANNING PROCESS? The strategic planning process is a crucial step in the success of a business or brand. Many companies have different types of planning processes according to their own preferences and details. However, every plan has a few broad steps that must be follow regardless to make sure that the plan has a strong flow and impact. These steps are – Get prepared This step involves getting together all the information about a business and identifying the issues that need to be addressed. Write down vision & mission statements In this step one must have clarity on the vision and mission of the company and should write these down in a physical format. This will include the company goal, values, statements, and a future image of the company.
Do a SWOT Analysis With all the information gathered, one must perform a Strength, Weakness, Opportunity and Threat analysis to get an in depth look into the brand. This analysis will reveal a lot of hidden features about a brand and is an extremely important aspect in strategic planning. Write down the priorities After all the negatives & positives have been gathered and identified, it is important to create a list of the priorities. These priorities will define what aspects need immediate attention and what are critical talking points. Putting together a plan In this step all the information that has been gathered will be put to use. A physical plan will be put into place keeping in mind all the issues and needs of the company. This plan should be comprehensive and in one document to ensure that there is a proper flow and feel.
Distributing the work A strategic business plan must always be segmented properly to ensure better working. Just like the plan, the tasks and actions should also be divided properly among the employees and according to the resources of the company. Push out the plan In this step, the once written down plan takes a physical shape and is finally put out. All the aspects are ready and take effect. It is important to ensure that all the activities are aligned and everybody has one single goal in mind. Review the plan After a considerable amount of time has passed, one must review the plan that has been in action. The issues and successes must be noted and action must be taken accordingly.
